You're using the term "cap" when you should be talking about tax threshold. It's confusing things. You can use the full $5 mill MLE if you start under the TAX threshold when you sign. That's why Dan has listed the "Apron" figure. Because once a team uses the full Non-taxpayer MLE and ends up over the tax by using it, they are confined to remaining under the Apron for the rest of the year.

You have cap, tax threshold, and Apron. 3 different levels with different implications.

I thought they changed the rule that even if you're under luxury, you can't sign for full MLE if you go over the luxury threshold with the new contract? The old CBA would allow you to do that. May have been just a proposal though, not sure if it made it in the final agreement.